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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Revenues:        
Rental income $ 311,352 $ 341,183 $ 625,323 $ 683,942
Direct financing lease income 535 697 1,104 1,438
Operating expense reimbursements 26,646 25,312 49,893 48,286
Cole Capital revenue 32,486 26,529 63,719 54,023
Total revenues 371,019 393,721 740,039 787,689
Operating expenses:        
Cole Capital reallowed fees and commissions 6,975 3,710 15,043 5,741
Acquisition related 41 1,563 283 3,745
Litigation and other non-routine costs, net of insurance recoveries 2,917 16,864 (2,258) 33,287
Property operating 38,199 32,598 73,012 63,597
General and administrative 33,094 33,958 62,494 67,064
Depreciation and amortization 197,345 217,513 401,653 436,654
Impairments 8,825 85,341 169,342 85,341
Total operating expenses 287,396 391,547 719,569 695,429
Operating income 83,623 2,174 20,470 92,260
Other (expense) income:        
Interest expense (82,468) (90,572) (162,894) (186,271)
Gain on extinguishment and forgiveness of debt, net 252 0 252 5,302
Other income, net 1,216 3,822 2,278 7,884
Equity in income and gain on disposition of unconsolidated entities 70 1,480 10,474 1,506
(Loss) gain on derivative instruments, net (177) 311 (1,263) (717)
Total other expenses, net (81,107) (84,959) (151,153) (172,296)
Income (loss) before taxes and real estate dispositions 2,516 (82,785) (130,683) (80,036)
Gain (loss) on disposition of real estate, net 437 (24,674) 17,612 (56,042)
Income (loss) before taxes 2,953 (107,459) (113,071) (136,078)
Benefit from (provision for) income taxes 280 (1,250) 224 (3,324)
Net income (loss) 3,233 (108,709) (112,847) (139,402)
Net (income) loss attributable to non-controlling interests [1] (87) 2,187 2,907 2,910
Net income (loss) attributable to the General Partner / OP $ 3,146 $ (106,522) $ (109,940) $ (136,492)
Basic and diluted net loss per share attributable to common stockholders (in dollars per share) $ (0.02) $ (0.14) $ (0.16) $ (0.19)
Distributions declared per common share / unit (in dollars per share) $ 0.14 $ 0 $ 0.28 $ 0
VEREIT Operating Partnership, L.P. [Member]        
Revenues:        
Rental income $ 311,352 $ 341,183 $ 625,323 $ 683,942
Direct financing lease income 535 697 1,104 1,438
Operating expense reimbursements 26,646 25,312 49,893 48,286
Cole Capital revenue 32,486 26,529 63,719 54,023
Total revenues 371,019 393,721 740,039 787,689
Operating expenses:        
Cole Capital reallowed fees and commissions 6,975 3,710 15,043 5,741
Acquisition related 41 1,563 283 3,745
Litigation and other non-routine costs, net of insurance recoveries 2,917 16,864 (2,258) 33,287
Property operating 38,199 32,598 73,012 63,597
General and administrative 33,094 33,958 62,494 67,064
Depreciation and amortization 197,345 217,513 401,653 436,654
Impairments 8,825 85,341 169,342 85,341
Total operating expenses 287,396 391,547 719,569 695,429
Operating income 83,623 2,174 20,470 92,260
Other (expense) income:        
Interest expense (82,468) (90,572) (162,894) (186,271)
Gain on extinguishment and forgiveness of debt, net 252 0 252 5,302
Other income, net 1,216 3,822 2,278 7,884
Equity in income and gain on disposition of unconsolidated entities 70 1,480 10,474 1,506
(Loss) gain on derivative instruments, net (177) 311 (1,263) (717)
Total other expenses, net (81,107) (84,959) (151,153) (172,296)
Income (loss) before taxes and real estate dispositions 2,516 (82,785) (130,683) (80,036)
Gain (loss) on disposition of real estate, net 437 (24,674) 17,612 (56,042)
Income (loss) before taxes 2,953 (107,459) (113,071) (136,078)
Benefit from (provision for) income taxes 280 (1,250) 224 (3,324)
Net income (loss) 3,233 (108,709) (112,847) (139,402)
Net (income) loss attributable to non-controlling interests [2] (4) (613) 35 (793)
Net income (loss) attributable to the General Partner / OP $ 3,229 $ (109,322) $ (112,812) $ (140,195)
Basic and diluted net loss per unit attributable to common unitholders (in dollars per share) $ (0.02) $ (0.14) $ (0.16) $ (0.19)
Distributions declared per common share / unit (in dollars per share) $ 0.14 $ 0 $ 0.28 $ 0
[1] Represents (income) loss attributable to limited partners and consolidated joint venture partners.
[2] Represents (income) loss attributable to consolidated joint venture partners.